Talks between Vestas (VWDRY.PK) and Mitsubishi Heavy Industries to build the biggest offshore...

|About: Vestas Wind Systems A/S ADR (VWDRY)|By:, SA News Editor

Talks between Vestas (VWDRY.PK) and Mitsubishi Heavy Industries to build the biggest offshore wind turbine are bolstered by securing €900M in financing yesterday through 2015. Vestas’ negotiating power is now “slightly improved... It doesn’t increase the financial flexibility of Vestas, but it removes the short-term default risk." Shares -9.5% after jumping 22% yesterday.